The closely watched $2.5 billion share sale launched by Asia’s richest man, Gautam Adani, was fully subscribed on Tuesday, bucking expectations after a turbulent week in which the conglomerate’s shares plunged in a tussle with a U.S. short-seller.
Before trading closed on Tuesday, over 100% of shares in the Indian group’s flagship Adani Enterprises was subscribed, according to Bombay Stock Exchange. While some Adani-linked shares went up, three were still down between 5% to 10%.
